Mortgage-free wannabe

I'm trying to pay my mortgage off asap. I have a question which I hope you can help with.My HSBC fixed rate is up in August 21, so I can get a new fixed rate end May.I've been overpaying every month £400. Would it be better if I add that £400 to the repayments each month and do no overpayment? or continue as I am and carry…

My current 5yr fixed rate mortgage will finish in 4months, so I looked around to see what deals were out there. To my surprise, my current provider, Halifax, seems to be the best available, and as it's the same company, there's no fees. But I was surprised I didn't save more during the change - going from 2.14% down to…

Good Evening Everyone I am after some different opinions/advice, were not sure what to do and are interested in others advice/opinions. I'm 43 hubby is 49 we are in a house worth 295k with a 103k left on mortgage. We stupidly took a 35yr mortgage and have 22 years left :( For the last 6 months we have started making…

Hi Everyone, I have been AWOL for a long time now, so long in fact I don't know how long it has been! In fact I'd describe myself as an AWOL lurker if that's even possible. We moved to a larger house a few years ago, certainly since my last post. I have a 6 year old daughter and for the last 5 days a super cute puppy!!!! I…

Have been lurking for some time, and getting inspiration from other people’s diaries, especially those of Tilly, Megela and Fortune Smiles (who has inspired me to make some muffins with the rhubarb growing in our garden tonight!) So, some background information…DH and I have both had a tombola birthday this year (40:() and…

Hi I’ve been reading these threads for a while now and thought it might help me keep myself accountable if I have a diary here. To explain the title, I’d love to be mortgage free. I hate being in debt and though I know this is a marathon rather than a sprint it doesn’t stop me wanting it gone ASAP. That said, the current…

After reading many of the MFW diaries over the last few weeks I felt inspired to give it a go. Worst case scenario I don’t hit the target I’ve set but we’re further ahead than we would have been just making the monthly repayments, right? At the start of the year we had a plan – clear our £104,675 mortgage (twenty six and a…

Greetings all! I expect the next few years to be quite an adventure, and I hope some of you will share it with me. I've been reading many of your MFW diaries and they're incredibly inspirational! I've only recently joined this site so please be gentle. I think this diary might be a bit unusual, because it's the first day…

As I've said this site/forum has really helped me since I started using it. I can't wait (how sad!) to start overpaying my mortgage and will try to do so every month or when possible. My question is, once you start, do you get a bit 'carried away' with it all? I mean would you now think twice about booking that next…

I’m starting a shiny new diary for a shiny new year. I’m now in phase 3, both in financial and life terms - a fresh new start, which I’m really excited about. Phase 1 started 16 years ago, we started a frugal lifestyle to get rid of overdrafts and loan debts and to save for a family and maternity leave. Phase 2 started 10…

..........

Hi, I am moving house and will have a 50k mortgage on a 250k house. My question, what's the best option to get it paid off in 5 years? Do I get a 5 year or a 25 year mortgage, fixed for 5 years, unlimited/limited overpayment? No early redemption fees? I struggle with the numbers. Is anyone confident in what they think…

I originally started a thread a year and a half ago when pregnant with my second child and full of good intentions. Fast forward to the present and after loosing my first account, I'm starting afresh with new goals and aspirations for the future! So a bit about me... I spent my twenties travelling, working overseas and…

I've lurked and read diaries on here for months to inspire me to start my mortgage free journey so hello! A little bit about me. I have been a single mum of 2 for the last 14 years and it's fair to say have struggled to the point where every one of the various boards has been a lifeline at one time or another. In 2008 (3…

How do peeps. sorry to sound a bit wooden about this question. I am intending on moving in with my girlfriend who has recently committed to a 7 year fixed mortgage at £90000 over 20years. £416pcm I am going to be giving her £400 towards paying off the mortgage and being mortgage free asap. Her bank says limit overpayments…

I'd just like to ask the other MFW's, has Covid 19 made you more aware that you need to keep on track with the overpayments and general thriftyness? Around summer 2019 I started getting a bit laxed with the overpayments and general money management, when we first went into lockdown and the news broke about the worldwide…

hi i hope this is the right area of forum to post this, apologies if not. i had built my savings up, so i decided to make a £10k overpayment to my mortgage. i wasn't sure if i should have done this, but i do like idea of getting mortgage free quicker so think it is the right decision. but it's done so i can't reverse this…

Hi I've always read and admired peoples' stories on here in working towards becoming mortgage free. I'm on my own journey and wish to share with you and hopefully pick up some tips and advice along the way. As the title says it really, I'm 35 years old wishing to be mortgage free by 50 and not feel under pressure to…

Hello I am a long time reader and finally have some time on my hands to write this so here goes! I am 34 and just started maternity leave (baby due today in fact!). First baby. My husband and I bought our first home last year and have 24 years to go on our mortgage, which is s 2.18% five year fix - we knew we wanted kids…

After thoughts/opinions please! We currently have a balance of around £76k left on our mortgage. We are in the final year of a 5 year fixed rate at 2.59% and had always planned on paying off the mortgage with savings when the fixed rate ends on the 31st December this year. There is currently an ERC of 1% if we pay it off…